Howard Can’t Count

“Regarding M. William Howard’s letter to the Targum 9/15/08, many Rutgers stakeholders, including myself, remain unconvinced by the assertion that $72 million of funding for the football stadium ‘will be totally underwritten by income from stadium and game-generated revenue.’ If Mr. Howard and his supporters are so confident in their projections, then they should have no trouble convincing investors that the stadium expansion is a viable, profitable business venture. Rutgers should issue bonds secured by football-related revenue and not by the general credit of Rutgers University; critics would no longer be able to argue that the expansion threatens the academics and infrastructure budgets of the school. I challenge Mr. Howard and the Board of Governors to find bankers and businesspeople willing to believe their projections. If people standing to make money on the deal don’t believe them, why should any of us?”

Alexander R. Rosteck 
Rutgers College class of 2009


4 Responses to Howard Can’t Count

  1. John Lister says:

    Thanks Alex for the laugh. You know, and I know that no-one in their right mind would finance bonds backed only by football revenues. We’ve just seen the bottom drop out of the sub-prime mortgate market and those loans were at least backed by real houses. How could there be any market based on the performance of a team that has had one good year in 30?

  2. John Lister says:

    Richard Seclow replies to Howard’s letter in today’s edition of the Targum. I think he writes a good letter except for one point: I’m not sure that Howard will comprehend the metaphor in the last paragraph.

    Meanwhile on the banks, don’t forget that McCormick will be giving his annual fairytaleaddress tomorrow. You can watch on the internet if you don’t want to attend the embarrassment. But we can have a competition for our favorite analogy:

    1) Best thing since Hans Christian Anderson

    2) Why isn’t his nose growing?

    Your entries?

  3. John Lister says:

    Congratulations Alex in getting your letter published in the Daily Targum today, where more people will read it.

  4. LouisStreetLou says:

    Surprised they didn’t try to censor it like they did Ms.Meta and the other young lady,who did a report on football a few years back. Good job Alex.

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